How big is Iran’s oil industry? With about 157 billion barrels of proven crude oil, Iran holds about a quarter (24 percent) of the Middle East’s and 12 percent of the world’

The initial round of Israeli attacks sent oil prices 7 percent higher on Friday. Still, at about $74 a barrel, Brent crude remains below the $80 average for 2024, the Deutsche Bank analysts wrote. The market continued to waver, though, and by Monday, oil prices had fallen about 3 percent.